Plenty of NFT tokens trade on meme value alone. ethereum:0xc50673edb3a7b94e8cad8a7d4e0cd68864e33edf has a live protocol buying Punks, and now NODE is stewarding it. At ~$10M circulating, it feels overlooked. https://t.co/sBqEKZlhfc
$FWA and $PNKSTR are still under $20M
Both generating real onchain activity,
while animal memes with zero utility casually trade at 10x.
Was trying to “Save Ethereum” the mistake?
Should’ve just shilled memes instead. Still betting the market eventually gets it right.
We think it's time to make some changes to the TokenStrategy platform, tying in FWA even further.
Starting tomorrow, anyone will be able to deploy the Strategy for a collection if it doesn't already have one.
Here's how it will work:
@0xtygra FWA’s low NFT-take rate is mainly because depositors overback NFTs, couldn’t Gacha face the same bottleneck in reverse? Rational vouchers may price near bids, but at those prices many NFT owners would just sell into the bid. So does depositor supply become the constraint.
@OttoSuwen People have PTSD. Experiments like this used to hit hundreds of millions with ease, and a few successful updates could push them into the billions. Now nobody wants to believe in anything. The upside is that the biggest runners are usually born in disbelief, not consensus.
Thanks for the warning. I sold all my FWA at the bottom and successfully protected myself from the dangerous possibility of making money. https://t.co/p4b3pUIpOB
I hated what FWA did from day 1 and tried to warn everyone out there. Extracting from your own users while giving the token holders nothing is exactly the kind of thing that keeps this industry stuck.
But honestly? Good. Let it hurt.
While I feel sorry for everyone who has lost money on this shitcoin, every blowup like this is another reminder that the extraction era is dying, and that ownership coins, token transparency frameworks, and tokens that actually be treated like equity onchain are the only way forward.
Bullish @MetaDAOProject
Bullish @Blockworks
Bullish on every founder thinking long term enough to be 100% committed to their token, or otherwise not launching one at all.
This is the only path forward. And I keep wondering how many more times we need to get rugged before we finally understand that.
@gmoneyNFT@0xQuit Instead of using all protocol fees for FWA buybacks, maybe a small percentage could be allocated to a “grail reserve” that periodically buys something like a CryptoPunk and deposits it with intentionally low backing.
@0xCragHack I've seen plenty of billionaires in casinos in Singapore who I'm sure know what EV means better than you do. People have been going to casinos for hundreds of years; if you think casinos are going to fail, you should reconsider your knowledge of economics.